My SOA

inspiremetosave

I'm not a newbie but I've never posted an SOA, thought I'd do one now incase I've been missing anything!

Basic Income : 1100.00pm (this varies as some months I get bonus)

My half of household bills : £450 - broken down we pay between us:
mortgage : £473
gas : £30
electricity : £70
broadband : £15
Phone Bill £20 (maximum)
Sky : £40 (£20pm until Jan)
Life Insurance : 26.00
Coucil Tax : £132
We pay house insurances / tv licenses annually from the money accumulated that is left over each month (also we have a couple of months not paying council tax that boosts this) we would also dip into this for any emergencies
My Loan : £220.42 (until Dec 2007 - see sig for outstanding balance)
Mobile Phone : £25 (maximum, usually around £20)
Savings 1 : £40 (this is my long term savings)
Savings 2 : £100 (this is short term savings - used for car expenses exc petrol, birthday and christmas pressies, dentist etc)
Petrol : £40

Total : 875.42pm

Owe :
Loan
C/C £1613.07

Partner pays shopping, gas and electric seems high, but swiched using uswich and have moved on their advise so will see what happens. Usually paying £300 off c/c each month as well as buying xmas pressies (only recently set up the saving account so not enough in there yet!)

lynzpower

A few things then
1) whys your electric so high?
2) why are you saving ( long term) instead of paying off the debt?

Aside from that - you are doing great

tyllwyd

Your signature says your mortgage is £123,340 - I'm assuming that your mortgage payments of £473 are interest only?

inspiremetosave

The long term saving is for a car, mines okay at the minute but it isnt gonna last me more than 2/3 years! Just thought if I put a bit aside each month it would help for when it gives up!

Electric - I think this is so high because I work days and my partner works nights so there are always things on. We will try and cut this down though (me being always on here probably doesnt help!)

inspiremetosave

Mortgage is 2 years interest only as we need/needed to do work on the house so we did this so we had money to spend but after the 2 years we will be moving onto repayment

melt71

How much do you have in 'long term' savings - could it be used to pay off your cc? How much is the interest on your CC and the rate of interest on your savings? do you see what I'm getting at?

inspiremetosave

savings is 6.1% and credit card is 0% Have only just started this savings account so there is a grand total of £100 so far!

CLAPTON

you seem fairly in control so just a couple of comments
do you have a detailed breakdown of the items you're saving for in 'saving2' ...i'm always a bit concerned when there's a 'etc' mentioned as its easy to think everything is covered when maybe there its really enough.

also you make no mention of socialising, clothes, holidays unless of course they are in the 'etc'.